Wednesday, April 08, 2015 11:23:16 AM
* Authorized shares stayed at 30 Billion through the year of 2014.
* Outstanding shares increased by 4.26 Billion through the year of 2014.
* Freely tradable shares increased by 5.20 Billion through the year of 2014.
* Pocket Kid Records is currently in Phase 2.
* Pocket Kid is ahead of
schedule, having achieved positive cash flow for three of the last four quarters (Q4 FY12, Q1FY13 and Q2FY13).
* In December of 2014, Pocket Kid extended its distribution agreement with Ingrooves/Fontana for another 2 years for its first album extending its distribution from US and Canada to world-wide.
* In September 2014 Interact-TV Incorporated and Executive Music Group, LLC (EMG)signed an Acquisition Term Sheet for Interact-TV's proposed acquisition of musicianand artist representation firm Executive Music Group, LLC. The completion of the acquisition is awaiting due diligence.
* ITVI has a consulting contract with its President, Robert Bryan. Mr. Bryan is due $16,000 per month for his services, payable in either cash, stock or a convertible note. As of December 31, 2013, the Company owes Mr. Bryan $315,500. Mr. Bryan began waiving his right to receive any fees from this agreement beginning in July, 2013, but did not waive his right to receive the accrued fees owed him through June 2013. As of now, he is still waiving his fee.
* By year end, ITVI had in biggest net income in over 8 quarters and had the largest Net change in cash since Q2 FY2013. With that, " We do not have a sufficient amount of cash to fund our operations for the next twelvemonths. With only appx. $23,985 of cash on hand as of December 31, 2014, we may require additional financing activities, either through the sale of shares or the receipt of loans, if we are not able to generate continued revenues. We anticipate utilizing both preferred share sales as well as loans to continue to operate.
* Pocket Kid’s operations alone are expected to require $100,000 in cash during the coming year, to fully fund its continuing commitment to Dead Sara as well as other prospective acts. While Pocket Kid is projecting sufficient cash by the second half of 2014 to self-finance its operations, we will need to continue to raise money in the meantime for both Pocket Kid and ITVI. The exact amount we will need to raise, either through debt or equity placements, is unknown, as we are looking to the results of album sales and any additional licensing or publishing agreements for Dead Sara songs before we produce final figures for our required capital raising needs.
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